why the drop, page-7

At the start of the SP drop today, I thought it was due to some investors are getting impatient, having waited for an anticipated bullish announcement, and waited, and waited and finally coming to the conclusion that it wasn't coming any time soon.

However, the drop then accelerated a bit more than expected, so it was either other investors getting spooked / selling some (locking in profits / phase-2 convertible holders?) before it dropped much further / stop-losses kicking in, or something a bit more serious. Given that some new buyers came back in and limited the damage, I think it was one of the former.

I think this might be what Lemas' last post was getting at ... we are still waiting, waiting, waiting ...

Certainly, last week's SP action (or possibly even before that) seemed to indicate that a number of investors were buying up in anticipation of a bullish announcement (as was the rumour), especially in the way it would surge at the beginning of the day, then subside near the end ... yet another day without the announcement (they could be heard muttering!).

I still believe the rumour, although now it's a matter of when ...

Anyhow, we shouldn't be too concerned, a few weeks ago the stock was less than half what it is now, even after today's drop.

Cheers.